Weil advised funds managed by Ares Management (“Ares”) as PIK lender and minority shareholder in the refinancing of TalkTalk Telecom Group Limited (the “Company”).

TalkTalk, the UK's leading value for money connectivity provider, announced yesterday the successful completion of its refinancing transaction agreed with its RCF bank lenders, senior secured noteholders, Ares and its major shareholders. The transaction involved a corporate reorganization to separate the group’s Consumer and Platform X sub-groups, the provision of new funding and operating assets in excess of £400m and the extension of the Company’s RCF and SSN maturities to 2027. The transaction has left the Company well-funded to continue to capitalize and expand on its strong position in the market.  

The Weil team was led by Finance partner Chris McLaughlin and Restructuring partner Matt Benson, together with partners Neil Devaney and Andy Hagan, supported by Kai Zhang, Wupya Nandap, Michael McDonald, Marcus Chaplin-Roberts, Maxim Frolov, Saahil Sheth, Atty Abhyankar and Georgia Papathanasiou.